TheStreet’s Jim Cramer says when you look at Toll Brothers and Home Depot you realize that people are spending on their homes again. Toll Brothers gross margins went up and a lot of it has to do with particular projects in Brooklyn and Hoboken, he says. And while a lot of people were suspicious that they weren’t selling well, the selling prices are actually going up — that’s how you improve the gross margins, Cramer says. It’s clear people are once again spending on their homes and that’s why Cramer says he likes Lowe’s and holds it in his Action Alerts PLUS charitable trust portfolio. Toll Brothers first quarter profit beat estimates on higher sales while Home Depot posted strong sales and announced an $18 billion repurchase plan. Lowe’s is set to report fourth quarter results on Wednesday.
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